Is it worth it to switch from MB to IB ?

U

uniafly

Is it worth it to switch from MB to IB ?


Hi ! I am thinking about switching from MB to IB.

I like MB, did not have any problems. It is my first broker. I am satisfied with the execution speed , it seems like its fast enough.


I trade right now about 10.000 shares a day, and 200-500 share lots. Round trip at MB costs $0.02. At IB round trip costs $0.01.

It seems like I should save at least $100 a day on commissions at IB.


Though I have couple questions about IB:

1) How is the execution speed ? Is it fast enough ? Guys who use IB and trade many times a day, what can you say about the execution speed ?


2) At MB you can avoid NYSE Specialist fee ($0.009 ) by choosing “DAY-NB” as the order expiration ( in this case MB’s software resubmits order to the NYSE every 4 minutes, and it seems this allows to avoid the fee ). The question is : does IB have similar feature, that allows to avoid NYSE specialist fee ?


Thank you for help !
 
i use both and think ib's execution speed is a bit better and there commissions way better. not only is ib .005 vs .01 for mb but there's no sec fee for ib which takes it down near .004. i called mb recently and told them there commissions sucked and weren't acceptable. they said they were going to annoucne .005 or so at end of june. 2 motnhs ago mb offered .004 all in for a week or so and then it disappeared from the site. but to be honest if you really arr serious about day trading and make a living at it id look at a professional platform which is 100 times easoier to use than ib or mb
 
Thank you for reply !
Is it so that there is no NYSE specialist fee of ($0.009) with IB service ? I am glad to hear that if that’s the case. So it is just $0.005, and not additional costs per transaction ??

Sir you said about professional platform, what kind of platform you are talking about, would you explain please ..?


Thanks again…
 
Stock:

Why?
If your main reason is for price issue at the expense of software integration then your might not be saving anything.
 
Quote from mktman:

Stock:

Why?
If your main reason is for price issue at the expense of software integration then your might not be saving anything.
More...

I have saved a truck load of money in commissions since I switched to IB a few years ago. That has more than offset the additional expense I pay for 3rd-party software.


Yoy make your own choce-- that's part of the game.

Good Trading to you.
 
I use Medveded Quote Trucker, and I think if IB provides data feed the same as MB, then it will cost me nothing to Quote Trucker with IB, because right now I use it with ads.



Any complains about execution speed ?

Thanks
 
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